Hightower is expanding its top leadership ranks with the addition of a new president, chief operating officer, and chief financial officer.
One of the nation’s largest registered investment advisors, Hightower didn’t announce the moves, but disclosed its new leadership structure in a March 28 regulatory filing with the Securities and Exchange Commission.
The Chicago-based firm named Gurinder Ahluwalia as its president, a new position at the company. Ahluwalia is an executive partner at Thomas H. Lee Partners, the private-equity firm that owns a majority stake in Hightower.
Ahluwalia has been involved with Hightower since 2018, when THL bought into the firm, which ranked No. 2 on Barron’s 2023 list of top RIA firms. His LinkedIn profile identifies him as lead director and chair of Hightower’s audit committee. Ahluwalia has a long résumé in financial services, including a stint as president and CEO of
Hightower CEO Bob Oros and Ahluwalia have “complementary skills,” says David DeVoe, founder and CEO of DeVoe & Company, an advisor consultancy and investment bank.
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“Bob’s very extroverted, has passion for this industry,” DeVoe says. “Gurinder is a methodical, detail-oriented leader. At this stage of the life cycle for Hightower, I think it can be valuable to have a full-time CEO and full-time president.”
Other changes at Hightower outlined in the SEC filing include the creation of a chief operating officer position in February. Hightower tapped Michael DiBiasio, a 16-year
veteran, for that role.
“Hightower Advisors continues to expand its executive team by adding talented leaders who can support our business and client objectives,” Oros said in an emailed statement. “With the additions of Gurinder Ahluwalia as president and Michael DiBiasio as COO, we’re supporting the structure of growth and at the same time ensuring that we can continue to drive momentum for our advisors in a way that is proactive and scalable.”
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Hightower’s most recent Form ADV filing also lists Daniel Berg as CFO, taking that role in April. Dan Watanapongse was the former CFO.
“Dan Watanapongse will remain to assist with the transition over the next three months,” a company spokesman says.
Berg has been with Hightower for 12 years, most recently serving as the firm’s managing director of finance.
